How to grow wealth in a short time isn’t the biggest question in this day and age. After all, everyone knows that there is no better place than the stock market to achieve this goal!A far more important question is how to choose the best account for trading.It might seem a bit confusing, especially if you are new to the stock market.So, it’s essential to cover all the bases before checking out the best possible options. Let’s begin at the beginning—you need to open a demataccount to start share tradingin India.
Trading& and demat accounts
Both trading and demat accounts are vital components of trading.
- Trading account:Through the trading account you can buy and sell the stocks of your choice. It’s your digital account for trading.
- Demat account: A demat account is a place where you store your shares. You send the purchased shares to your demat account from your trading account. Similarly, you send the shares to be sold to the trading account from your demat account.
It’s clear from the points mentioned above thatboth trading and demat accountscomplement each other. You need to have both types of accounts to trade in the share market.Some stockbrokers offer all trading and demat features under one single account.This would make the job a lot simpler for you.
Best account for trading
Many reputed brokerage firms like Kotak Securities offer multi-use services. Kotak’s three-in-one ‘Trinity Account’could be the best account for you. Here are a few of its benefits:
- Features: This account offers three services undera single account. You get a Kotak Bank savings account, a trading account, and a demat account. You can maintain all your transactions at a single location. This makes it very convenient for you to keep a tab on your finances.
- Digital assistance: You can access this type ofaccount from a highlyspecialized mobile app. So, you do not have to visit a branch or run to the stock exchange to get your work done. You can access your account any time from any place, provided you have your smartphone at hand.
- Weekend trading: When you have a Trinity Account, you do not have to wait until a specific time on a particular day to start trading. You can place orders and queue up the stocks you want to buy or sell even on weekends. It’s the responsibility of Kotak to carry out the job at an appropriate time on your behalf.
- Research material:Kotak Securities is one of the leading stock broking firms in India. Regular market researchhelps it understand market trends properly. Not only does this work in your favour, but you also get access to all the research. Kotak shares its priceless research materials with its clients.
Tailpiece
The Trinity Account from Kotak Securities is one of the best accounts for share market trading. This could be a great option for you to begin your financial journey.In fact, this account is perfect for both long-term investors and individuals new to stock market trading.